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The Kraft Heinz Company Add to portfolio

NAS:KHC, Jun 06, 06:45 UTC

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Tuesday, May 19


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Bruce Berkowitz Buys Buffett's Berkshire and Kraft Heinz in the 1st Quarter

KHC SPG +2 more KHC SPG BRK.B OXY

Bruce Berkowitz (Trades, Portfolio), founder and managing partner of the Fairholme Fund (Trades, Portfolio), disclosed last week that his top buys for the first quarter included a position expansion in Warren Buffett (Trades, Portfolio)'s conglomerate Berkshire Hathaway Inc. (NYSE:BRK.A)(NYSE:BRK.B) and new holdings in The Kraft Heinz Co. (NASDAQ:KHC), Occidental Petroleum Corp. (NYSE:OXY), Simon Property Group Inc. (NYSE:SPG) and Western Midstream Partners LP (NYSE:WES). The founder of the Miami-based firm applies Benjamin Graham's strategy in his stock picking, seeking companies that have solid management, generate high free cash flows and are trading at a deep discount to intrinsic value. As of the quarter-end, Berkowitz's $510 million equity portfolio contains seven stocks with a turnover ratio of 13%. The Omaha, Nebraska-based conglomerate operates a wide range of subsidiaries, which primarily include insurance companies like Geico and Berkshire Hathaway Reinsurance Group. For its investment portfolio, Berkshire applies a four-criterion investing approach stemmed from Buffett's mentor Graham: Buffett and co-manager Charlie Munger (Trades, Portfolio) seek companies that have understandable businesses, favorable long-term prospects, competent management and attractive valuations. Berkowitz purchased 444,500 shares of Kraft Heinz, giving the holding 2.16% weight in the equity portfolio. While shares averaged $27.55 during the first quarter, the stock is now trading close to its 52-week high of $33.78 despite languishing near a 52-week low of $22.82 in March.

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Wednesday, April 08


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Kraft Heinz CEO: Mac & cheese sales are soaring amid the coronavirus outbreak

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Besides Hormel’s iconic Spam seeing red-hot sales (as the CEO recently told Yahoo Finance), good old-fashioned Kraft Macaroni and Cheese appears to be flying off the shelves and into over-stuffed cupboards. So much for those keto diets. “The champion for sure is Kraft Mac & Cheese,” remarked Kraft Heinz CEO Miguel Patricio in an interview with Yahoo Finance, when asked about top-selling products right now. Patricio said Kraft Heinz brands such as Oscar Mayer, Capri Sun and Philadelphia Cream Cheese are also experiencing brisk sales. “Recognizing that the coronavirus outbreak is taking a significant personal toll on many, we think it could also provide CEO Patricio with a rare occasion to rally the organization around the central purpose of supplying food to the world, especially during a time of such extreme need. While many of the brands remain challenged, in our view, we see evidence in a recent survey we conducted to suggest that consumers are preferring brands over private label during times of uncertainty that could translate to sustained increasing household penetration for Kraft Heinz brands,” long-time Kraft Heinz bear Laurent Grandet of Guggenheim wrote in a new note to clients on Tuesday.

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News

Kraft Heinz CEO: Mac & cheese sales are soaring amid the coronavirus outbreak

KHC

Besides Hormel’s iconic Spam seeing red-hot sales (as the CEO recently told Yahoo Finance), good old-fashioned Kraft Macaroni and Cheese appears to be flying off the shelves and into over-stuffed cupboards. So much for those keto diets. “The champion for sure is Kraft Mac & Cheese,” remarked Kraft Heinz CEO Miguel Patricio in an interview with Yahoo Finance, when asked about top-selling products right now. Patricio said Kraft Heinz brands such as Oscar Mayer, Capri Sun and Philadelphia Cream Cheese are also experiencing brisk sales. “Recognizing that the coronavirus outbreak is taking a significant personal toll on many, we think it could also provide CEO Patricio with a rare occasion to rally the organization around the central purpose of supplying food to the world, especially during a time of such extreme need. While many of the brands remain challenged, in our view, we see evidence in a recent survey we conducted to suggest that consumers are preferring brands over private label during times of uncertainty that could translate to sustained increasing household penetration for Kraft Heinz brands,” long-time Kraft Heinz bear Laurent Grandet of Guggenheim wrote in a new note to clients on Tuesday.

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Kraft Heinz Ups Organic Sales View on Coronavirus-Led Demand

KHC

Kraft Heinz Ups Organic Sales View on Coronavirus-Led Demand. A renowned food and beverage company, The Kraft Heinz Company KHC informed that it has been witnessing higher consumer demand for its products. Impressively, for first-quarter 2020 management now expects net sales to increase nearly 3% year over year. Organic net sales are anticipated to increase nearly 6% in the same time period.The company had earlier envisioned a low single-digit decline in organic net sales for the first quarter. However, the company has been seeing weakness in Foodservice-related revenues globally. In fact, many retailers like Dollar Tree, Inc. DLTR, Dollar General Corporation DG and Walmart Inc. WMT are hiring associates to efficiently cater to high consumer demand for essential goods and delivery needs.Meanwhile, Kraft Heinz had earlier pledged $12 million to various organizations like Feeding America with a view to support them in their fight against the consequences of the novel coronavirus outbreak.We note that shares of this Zacks Rank #4 (Sell) company have dropped 3% in the past six months compared with the industry’s decline of 11.9%.

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Friday, April 03


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Kraft Heinz cuts output at three plants, adds shifts for mac & cheese

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Kraft Heinz cuts output at three plants, adds shifts for mac & cheese. SAO PAULO (Reuters) - Kraft Heinz Co <KHC.O> said on Friday it has moved to significantly reduce production at three plants providing restaurant supplies amid the new coronavirus outbreak, but its CEO noted the company has added shifts at others to meet demand for packaged foods like macaroni and cheese. "We feel that people are seeking more comfort food at this moment, as they seek some other ways to feel pleasure," Patricio said. Patricio said he considers Kraft Heinz to be a "safe haven" but is worried about the effect of credit constraints on its suppliers, adding that he is looking at ways to address the issue.

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Sunday, March 22


News

Why You Should (Still) Avoid Kraft Heinz Stock

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The recent phenomenon of quickly emptying store shelves has sparked renewed interest in consumer staples stocks such as Kraft Heinz (NASDAQ: KHC). Unfortunately for Kraft Heinz, this means the problems that have plagued the company for years will probably return to the forefront. Though Kraft Heinz is similarly down 31% in 2020, coronavirus fears did not hit the company quite as hard in the past few weeks. However, Kraft Heinz stock did not enjoy the short-lived surge that benefited rivals such as Kellogg's and General Mills. Kraft Heinz has failed to sufficiently adapt and cater to these consumer tastes. Since many shelves remain empty, shoppers may buy what they can find for now. However, once the panic buying stops and consumers again have a wide array of choices, many shoppers will resume avoiding packaged foods.

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Friday, March 20


News

Kraft Heinz talks with Amazon, Walmart daily to speed food deliveries

KHC WMT +1 more KHC WMT AMZN

LONDON (Reuters) - Kraft Heinz <KHC.O> speaks daily with Amazon.com <AMZN.O> and Walmart Inc <WMT.N>, hoping to speed up deliveries as customers worldwide stay home and shop online to protect themselves from the COVID-19 pandemic, Kraft Heinz's CEO said on Friday. Kraft Heinz, which makes packaged food products from Planters peanuts to Heinz Ketchup, is among several major food companies that has increased production to help retailers respond to panic-buying of staple goods like canned food, toilet paper and cleaning products. I think the bottle-neck is being able to deliver to people’s homes, not production,” Kraft Heinz Chief Executive Miguel Patricio said in an interview on Friday. "Penetration has increased for them (Amazon), more people are subscribing - it’s big demand and you have to adapt your logistics system to attend this demand."

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Monday, March 16


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Kraft Heinz Taps as Much as $4 Billion of Credit Line

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Kraft Heinz Taps as Much as $4 Billion of Credit Line. Gillian Tan and Paula Seligson. Bloomberg{{monthName}} {{day}}, {{year}}, {{hour12}}:{{minuteTwoDigit}} {{dayPeriod}}. (Bloomberg) -- Kraft Heinz Co. is planning to draw down as much as $4 billion from its revolving credit facility, a month after the food giant’s credit rating was cut to junk, according to people familiar with the matter. The move comes as companies from planemaker Boeing Co. to casino operator Wynn Resorts Ltd. tap into their backup credit lines and other loans to bolster cash positions amid the worst credit-market turmoil since the 2008 financial crisis. Firms are stockpiling cash as the coronavirus pandemic shuts down broad swaths of the economy. “The demand for our brands, our cash flow and our balance sheet remain strong,” a Kraft Heinz spokesman said in response to an inquiry without commenting directly on its credit line. “As a matter of practice, we typically maintain a conservative liquidity posture, which is even that much more important as we focus on making sure all our products remain available to the public during these challenging times.”. A spokesperson for JPMorgan Chase & Co., the agent bank on the $4 billion revolving loan, declined to comment. The consumer-foods company was cut below investment grade last month by S&P Global Ratings and Fitch Ratings and warned shortly after that the downgrades may limit its access to financing sources such as the commercial paper market, requiring it to use alternative funding sources such as its senior credit facility. Kraft Heinz said in a regulatory filing last month that it had no commercial paper outstanding at the end of 2019 and that the maximum amount it held during last year was $200 million. “We maintain our $4.0 billion senior credit facility, and subject to certain conditions, we may increase the amount of revolving commitments and/or add additional tranches of term loans in a combined aggregate amount of up to $1.0 billion,” the company said. Created in a merger five years ago orchestrated by Warren Buffett’s Berkshire Hathaway Inc. and private equity firm 3G Capital, Kraft Heinz is in the midst of a turnaround as its brands fall out of favor with consumers. Its shares have fallen about 16% in the past month, less than the decline of the S&P 500 Index, amid ongoing consumer demand for food and beverages. --With assistance from Jacqueline Poh. For more articles like this, please visit us at bloomberg.com. Subscribe now to stay ahead with the most trusted business news source.

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Wednesday, February 26


News

Boeing and T-Mobile's Credit Set to Follow in Kraft Heinz's Footsteps

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To stave off the next economic recession for as long as possible after the 2008 financial crisis, the Federal Reserve has fought fire with fire, cutting base interest rates in order to make debt cheaper for the increasing number of financially struggling corporate giants. After some companies saw their credit ratings increase at the end of 2019, the market as a whole is continuing on its decade-long trend to higher numbers of businesses whose bonds are no longer investment grade. The longer the aircraft is grounded, the more debt Boeing will have to take on in order to maintain the company's operations. When (or if) the aircraft is cleared for flight once again, it will also face fears that its issues might not be fixed. Combining the high debt of both companies in a merger meant to precede an aggressively competitive business stance means that T-Mobile is not likely to tidy up its balance sheet anytime soon. If anything, it may take advantage of the low interest rate environment and its recently upgraded credit rating to borrow more, which seems likely to result in its debt being thrown back to the bottom of the junk bin.

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Monday, February 24


News

Bear of the Day: Kraft Heinz (KHC)

KHC

Pittsburgh-based The Kraft Heinz Company (KHC) is one of the largest consumer packaged food and beverage companies in North America. Popular brands include Heinz, Kraft, Oscar Mayer, Planters, Philadelphia, Velveeta, Lunchables, Maxwell House, Capri Sun, and Ore-Ida. Shares of KHC slid as much as 7% after the packaged food giant released disappointing fourth quarter results. Organic sales (which takes out the impact of divestitures, acquisitions, and foreign currency) fell 2.2%; sales volume and mix also dropped 4.2%, demonstrating that its brands are losing some market share. Changing consumer tastes is also negatively affecting Kraft Heinz, as more and more shoppers choose organic and natural items over its core packaged food brands.

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